Banking News

The prospect of record low savings rates continuing is forcing many savers to review how they allocate their capital in an attempt to achieve the level of returns they have previously enjoyed. Investing in the stock market inevitably involves putting your capital at risk however there is a middle ground which continues to attract increasing interest – the structured deposit. With this in mind, we take a deeper look at this savings alternative to help understand why more and more savers are starting to see their appeal. more

With the current economic environment asking savers far more questions than it gives answers, it is good to know that there are alternatives available. We take a look at one such alternative that is proving particularly popular as savers face the harsh reality that the more traditional fixed rate savings products are failing to meet their needs. more

Millions of savers are facing the harsh realisty that there is little hope of change to interest and savings rates in the coming years. However, those with Cash ISAs do have one further option to consider – the ISA transfer. We take a closer look at why this is becoming a rising trend as well as what this could mean for those looking for the potential to improve the returns from their capital. more

With so many savers joining income investors in the hunt for high yields, being able to quickly understand and compare the numerous options available has become even more important. We therefore compare two of our most popular income investments to help understand what is driving their popularity and why they might meet your income needs. more

Parents saving for their children

20 September 2007

Many parents are more likely to contribute towards savings for their children than give out pocket money, according to a new report.

A survey by engage Mutual found that while 55 per cent of parents in the east Midlands regularly give their children pocket money, less than 20 per cent said they made regular payments to savings.

By contrast, 40 per cent of parents in London said they regularly made contributions to their child's savings, with 33 per cent claiming to hand out pocket money.

Karl Elliot, spokesperson for engage Mutual, said "those children in areas where parents are the tightest on pocket money will thank them in years to come when they enjoy the benefits of a healthy, mature savings fund".

In related news, The Children's Mutual recently welcomed a move by the government to improve financial education in primary and secondary schools through the use of bank accounts and lessons in financial concepts.